Investing.com – The euro extended its gains against the U.S. dollar on Thursday, rising to hit a 12-week high, after data showed jobless claims fell more than expected in the U.S. last week.
EUR/USD hit 1.3107 during European afternoon trade, the pair's highest since May 4; the pair subsequently consolidated at 1.3077, gaining 0.63%.
The pair was likely to find support at 1.2875, the low of July 26, and resistance at 1.3213 the high of May 14.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week was 457,000, down 11,000 on the previous week.
Analysts had expected claims to remain unchanged at 464K.
The euro was also up against the pound, with EUR/GBP gaining 0.34% to hit 0.8358.
Earlier Thursday, official data showed that unemployment in Germany fell more than expected in July.
EUR/USD hit 1.3107 during European afternoon trade, the pair's highest since May 4; the pair subsequently consolidated at 1.3077, gaining 0.63%.
The pair was likely to find support at 1.2875, the low of July 26, and resistance at 1.3213 the high of May 14.
Earlier in the day, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week was 457,000, down 11,000 on the previous week.
Analysts had expected claims to remain unchanged at 464K.
The euro was also up against the pound, with EUR/GBP gaining 0.34% to hit 0.8358.
Earlier Thursday, official data showed that unemployment in Germany fell more than expected in July.